Morgan Stanley Cuts L3Harris Technologies (NYSE:LHX) Price Target to $250.00

L3Harris Technologies (NYSE:LHX) had its price target reduced by Morgan Stanley from $260.00 to $250.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also recently commented on LHX. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $263.07.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $206.42 on Tuesday. The company’s fifty day moving average price is $218.54 and its 200 day moving average price is $231.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The firm has a market capitalization of $39.15 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.74 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, sell-side analysts predict that L3Harris Technologies will post 13.8 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.87% of the stock is currently owned by insiders.

Institutional Trading of L3Harris Technologies

Several institutional investors and hedge funds have recently modified their holdings of LHX. KCM Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in L3Harris Technologies during the 3rd quarter valued at $841,000. Czech National Bank increased its position in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after acquiring an additional 4,321 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.